Prominent politicians, celebrities to suffer huge financial losses if ABS-CBN shuts down
Prominent names in showbiz and politics are set to suffer huge financial losses if ever either the Office of the Solicitor General (OSG) succeeds with its quo warranto case filed against broadcast giant ABS-CBN.

Prominent politicians, celebrities to suffer huge financial losses if ABS-CBN shuts down

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By JOHN CARLO M. CAHINHINAN

Prominent names in showbiz and politics are set to suffer huge financial losses if ever either the Office of the Solicitor General (OSG) succeeds with its quo warranto case filed against broadcast giant ABS-CBN.

Multi-platinum composer-singer Jose Mari Chan, Quezon City Mayor Joy Belmonte, her father, former House Speaker Feliciano “Sonny” Belmonte Jr., former Vice President Noli de Castro and showbiz royalties Kris Aquino and Vic Sotto are among those top 100 stockholders of the embattled Kapamilya network which is now in peril of losing its legislative franchise due to its upcoming expiration next month.

These well-known personalities are also among the big stockholders who are not related to the Lopez family that owns at least 65 percent of the total value of the leading media conglomerate in the country.

Other names that ring a bell in the top 100 stockholders list which was obtained by Politiko/Abante include actresses Angel Locsin, Kim Chiu, Angelica Panganiban and film director Olivia Lamasan.

Former National Youth Commission (NYC) chair Aiza Seguerra, a well-known supporter of the Duterte administration, as well as actor John Estrada were also tagged in the supposed list of stockholders in the Lopez-controlled firm.

The list of stockholders first circulated among congressmen and their staff after it was shared in their Viber group on Tuesday.

Topping the list of alleged largest co-owners of the troubled network are Lopez Inc., 480,933,747 shares of stocks; PCD Nominee Corporation, 352,410,599; Jose Mari Lim Chan, 1,257,130; Ching Tiong Keng and ABS-CBN Foundation Inc., 780,995 shares.

De Castro, who made a name as top anchor of the network’s prime time newscast TV Patrol, is listed as no. 25 among biggest stockholders. He is followed by the Belmontes at no. 26.

Director Lamasan owns larger shares compared to the three politicians. Her name appeared 20th in the list, while Locsin in on the 29th spot—listed in her real name, Angelica Colmenares.

Meanwhile, the Kapuso comedian Sotto and Eat Bulaga’s former child protégé, Seguerra have equal numbers of share, occupying the 76th-77th spots respectively.

The network has been suffering losses since Solicitor General Jose Calida on Monday filed a quo warranto petition asking the Supreme Court (SC) to nullify its existing legislative franchise for alleged serious violations of its conditions.

Also a cause for worry of ABS-CBN’s management, as well as its stockholders, is the continued failure of the House of Representatives to act on the broadcast giant’s bid for renewal of its congressional franchise which will expire on March 30.

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